The biggest problem is that the area is simply enormous. Most agree that Silicon Valley is an area covering Santa Clara County, San Mateo County, part of Santa Cruz County (Scotts Valley) and part of Alameda County (Fremont – and some also add Union City and Newark). It’s a lot of territory – 1,854 square miles. As of last year, this much territory was home to between just over 3 million people.
So if you are in house hunting mode, the very first thing you need to do is to understand your anchor point. The anchor point is the thing which you want to be near. For most people, that’s a work location (and in many cases, it may be 2 work locations). Sometimes it’s proximity to family members, a place of worship, a particular school or any number of things. Most of the time, the main anchor point is the place of employment and desired commute time, tempered by things like good schools, shopping, parks, things to do, and quality of life.
Narrowing the home search geographically
Moving here to work in Scotts Valley? Much of Santa Cruz County may work – but so could living in Los Gatos, Campbell or nearby, where you’d have a reverse commute.
Relocating for a job in Mountain View? Most likely, you’ll eliminate Santa Cruz County due to distance and commute challenges with Highway 17 going over the Santa Cruz Mountains.
If good public schools matter, that will help to refine your search, as not all parts of the southern San Francisco Bay Area have equally good education.
Below I’ll post sample listings from communities noted for better public schools in Santa Clara County up to 1.2 million, which seems to be a very hot price point that many relocating home buyers can afford. I do also serve San Mateo and Santa Cruz Counties, but most of my clients are looking at Santa Clara Co., so limiting this search here. Unfortunately, Alameda County (Fremont, Union City, and Newark are there) has a totally different MLS so usually I don’t work there – but am happy to introduce you to a great Realtor who does (please just email me and I will connect you).
Current Santa Clara County homes for sale in areas with good schools
First, you need to understand that possibly more than in any other time, it’s a deep seller’s market, meaning you most likely will be competing against multiple offers. Homes for sale are not as abundant as normal, and there are a lot of buyers trying to purchase a house or condo in the San Jose area. Not enough supply, too much demand equals multiple offers and rising prices. (You can check the current Santa Clara County real estate market statistics at www.popehandy.rereport.com.)
Secondly,if you want a chance at buying a property in Santa Clara or San Mateo Counties, you must have a great “offer package”. It is imperative that you have a solid down payment, 20% is a minimum but often it takes 25% or more to convince sellers that they should take your offer over the others. Cash is king and you may get out bid by an all cash offer, especially if it’s also a non contingent offer.
If you include any contingencies for inspections, loan and appraisal, they will have to be fairly short to compete in multiple offers. A 17 day loan contingency is a pretty sure fire way to get eliminated from multiple bids.
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